Naira Metrics
MTN Nigeria has revealed that it will commence the widely anticipated public offer of its 575 million shares from tomorrow being the 1st day of December, 2021. The offer will open at the aforementioned date by 8:00 am prompt and close at 5:00 pm on the 14th of December, 2021.
In a press statement recently issued by the company, and signed by its secretary, Uto Ukpanah, the telecommunications giant revealed that it will be offering the 575 million shares held by MTN Group to retail investors at N169 per share. In view of this, the company could potentially raise about N97.2 billion from the widely anticipated offer.
According to the disclosure, the minimum subscription is 20 shares and thereafter in multiples of 20 shares. The offer includes a bonus share of one share for every 20 shares bought by a retail investor subject to maximum bonus shares of 250 per investor. However, to qualify for the free share, such retail investors must buy and hold the shares for at least 12 months after the allotment date…
